KUALA LUMPUR, Oct 29 — Malaysia’s total approved investments in the manufacturing, services and primary sectors increased 7.6 per cent to RM91.9 billion in the first half of 2019 (1H2019) from RM85.5 billion in the same period in 2018.
The Ministry of International Trade and Industry (MITI) said this was attributed to improvement in the governance implemented by the Pakatan Harapan government under the mid-term review of the Eleventh Malaysia Plan.
“Investment performance in the first six months of 2019 clearly reflects increased investor confidence towards investing in Malaysia, supported by the policies and economic direction under the current administration,
“Emphasis was also given on investment policies that included facilitating processes, procedures and facilities from time to time to attract high-quality investments and technologies,” it said in a written reply on the Parliament web today.
The ministry was responding to a question from Datuk Halimah Mohamed Sadique (BN-Kota Tinggi) who wanted to know the success rate in attracting foreign investors back to Malaysia following the government’s efforts to improve governance.
According to MITI, in the manufacturing sector in particular, total approved investment in the January-June 2019 period was RM33.1 billion, of which RM25.1 billion or 76 per cent was made up of foreign direct investment.
It stated that the US, China and Singapore were the largest contributors to the investments, particularly in the electrical and electronics, transportation technology, and paper manufacturing industries.